Savings and growth in neoclassical growth models: A comment on “Is Piketty’s “second law of capitalism” fundamental?”
Francisco Alvarez-Cuadrado ()
Economics Letters, 2019, vol. 174, issue C, 128-131
This note explores the response of saving rates to the rate of income growth in models of optimal growth. Contrary to the claims in Krusell and Smith (2015) the sign of this response depends on the consumption intertemporal elasticity of substitution.
Keywords: Saving; Optimal growth (search for similar items in EconPapers)
JEL-codes: O4 E21 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:174:y:2019:i:c:p:128-131
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